(Alliance News) - The board of directors of Mittel Spa on Wednesday reviewed and approved the report as of Dec. 31, which closed with a positive group net income of EUR700,000 from EUR600,000 in the previous year.

Consolidated revenues amounted to EUR210.2 million, up further from EUR201.6 million recorded as of Dec. 31, 2021, thanks to the contribution of industrial subsidiaries and in particular the Bathroom Furnishings companies, which contribute EUR75.7 million to the consolidated figure.

Consolidated accounting EBITDA amounted to EUR31.1 million compared to EUR24.7 million as of December 31, 2021, "influenced by the positive impact of IFRS 16, net of

of which EBITDA was EUR16.8 million, also up sharply from EUR11.1 million as of Dec. 31, 2021," the company note reads.

The net operating financial position of Mittel and the holding system, excluding the contribution of industrial investee companies IFRS 16 liabilities and including bridge loans to investee companies, was positive EUR46.7 million from positive EUR38.1 million as of Dec. 31, 2021.

Mittel closed Wednesday's session in the red by 0.7 percent at EUR1.38 per share.

By Maurizio Carta, Alliance News reporter

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